OMERS ADMINISTRATION Corp Invests $142.99 Million in Bank of Nova Scotia (The) $BNS

OMERS ADMINISTRATION Corp bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,645,661 shares of the bank’s stock, valued at approximately $142,985,000. Bank of Nova Scotia makes up approximately 0.9% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 25th largest position. OMERS ADMINISTRATION Corp owned about 0.13% of Bank of Nova Scotia as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Prospera Financial Services Inc grew its stake in Bank of Nova Scotia by 3.9% in the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock valued at $341,000 after purchasing an additional 173 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Bank of Nova Scotia by 22.3% during the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after purchasing an additional 233 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bank of Nova Scotia by 8.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock worth $235,000 after purchasing an additional 239 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 8.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after buying an additional 261 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 8.5% in the 1st quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock valued at $248,000 after buying an additional 281 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BNS has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a research report on Friday. They issued an “outperform” rating for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $87.56 on Monday. The company has a market cap of $106.72 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.08 and a beta of 1.11. The firm’s fifty day moving average price is $87.58 and its two-hundred day moving average price is $79.60. Bank of Nova Scotia has a one year low of $56.55 and a one year high of $92.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. Bank of Nova Scotia’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. Equities analysts expect that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

About Bank of Nova Scotia

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.